Marubeni Takes on Fifth India Project and More APAC Real Estate Headlines

Japanese overseas investments lead today’s real estate headlines from around Asia Pacific as Marubeni backs a residential project near Mumbai. Also making our list today is a series of fundraising announcements, including fresh milestones from CBRE IM, Ares and Bain Capital. 

Marubeni Invests in 900-Home Kolte-Patil Project in Pune

Japan’s Marubeni Corporation announced this week that it has agreed to help fund a residential project being developed by a unit of India’s Kolte-Patil Developers in the Maharashtra state city of Pune. 

Marubeni is subscribing to non-convertible debentures issued by Kolte-Patil Integrated Townships Ltd linked to what will be the Japanese firm’s fifth real estate investment in India. The project in the Life Republic township will develop 900 homes and is expected to be completed in 2029. Read more>>

CBRE IM Raises $1.6B for Real Estate Secondaries

CBRE Investment Management has announced the final close of its latest real estate secondaries fund, Real Estate Partners 2. The fund raised $1.62 billion in capital commitments, surpassing its original $1.25 billion target, and secured additional co-investment capital, bringing the overall investment capacity to over $2.25 billion. 

The fund targets opportunistic returns by investing in high-quality, income-producing assets at a discount, leveraging CBRE IM’s global scale, proprietary research and deep operator relationships to source and deliver value in complex or overlooked segments of the market, the company said. Read more>>

Ares Raises Over $7B for Credit Secondaries

Ares Management announced this week that it has raised $7.1 billion in capital for its Credit Secondaries strategy, inclusive of the final closing of its inaugural Ares Credit Secondaries Fund, affiliated vehicles and anticipated leverage. 

With $4 billion in LP equity commitments, the fund doubled its $2 billion target and represents Ares’s largest inaugural institutional fundraise. The fund aims to invest in a diversified portfolio of predominantly senior secured, private-equity-backed and floating-rate private credit portfolios. Read more>>

Bain Capital Closes on More Than $5B for US-Focused Real Estate Strategies

Bain Capital on Tuesday announced the close of more than $5 billion in new capital across its real estate strategies, including the completion of fundraising for Bain Capital Real Estate Fund III with $3.4 billion in total commitments. 

Fund III received significant support from a diverse group of new and existing limited partners globally and includes $300 million from Bain Capital employees and alumni, underscoring the firm’s long-standing commitment to ensuring alignment with its investors, Bain said. Read more>>

Malaysia’s Sunway Makes $2.7B Bid to Take Over Rival IJM

Malaysian conglomerate Sunway has rolled out an MYR 11 billion ($2.7 billion) share-and-cash takeover of IJM Corporation, aiming to combine two of the country’s largest construction and property players into a powerhouse with a market value of nearly MYR 50 billion.  

The long-speculated merger of the giant entities would knit together a land bank of 2,300 hectares (5,683 acres), MYR 118.1 billion in gross development value and a potential MYR 13 billion order book into a single, enlarged platform. Read more>>

Sun Hung Kai Properties Wins Hong Kong Land Tender With $180M Bid

Lower land prices and the anticipation of a market recovery are among the reasons for a recent deal between a large Hong Kong developer and the government that will set up one of the biggest housing projects in the Northern Metropolis, experts have said.

Their analysis followed an announcement by Sun Hung Kai Properties that it had entered into a land deal worth HK$1.4 billion ($179.5 million) with the government for a site in Kwu Tung South. Read more>>

Toyota Tsusho Breaks Ground on Green Data Centre in Hokkaido

Toyota Tsusho Corporation said this week that it has commenced work on a green data centre project in Wakkanai City, Hokkaido with its affiliate, Eurus Energy Holdings.

The 10-20MW project is driven by a connected wind power facility, with the first phase to be completed next year. A second phase is targeted to come online around 2030. Read more>>

Korean Court Rejects Call to Arrest MBK Chair Over Homeplus Scandal

Private equity major MBK Partners avoided a worst-case scenario Tuesday after a court rejected prosecutors’ request for arrest warrants for key executives over the Homeplus fallout, including founder and chairman Michael Kim.

The Seoul Central District Court said it denied the warrants sought for Kim; Homeplus CEO and MBK vice chairman Kim Kwang-il; MBK vice president Kim Jeong-hwan; and Homeplus chief financial officer Lee Sung-jin, citing insufficient grounds to justify detention. Read more>>

Tune in again soon for more real estate news and be sure to follow @Mingtiandi on X, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.